Who Is The Best KiwiSaver Provider For You?

Another aspect to touch on is the difference in overall customer satisfaction between the best KiwiSaver providers NZ.

According to Consumer NZ’s annual KiwiSaver provider satisfaction survey, Generate ranked the highest with 80% overall satisfaction in 2025. Customers of the Generate KiwiSaver provider were particularly impressed with ease of access and features in its digital platform. Milford Funds and Simplicity were other KiwiSaver providers that ranked high in consumer satisfaction. The second ranked KiwiSaver provider, Milford, in part due to strong communication and customer confidence in returns. Whereas the third ranked KiwiSaver provider, Simplicity was appreciated for the fairness of its fees and ethical focus.

Mercer took last place amongst KiwiSaver providers with the lowest customer satisfaction rating. Customers were particularly not impressed with service quality and value for money. Smart came second last amongst KiwiSaver providers. It scored particularly poorly with engagement and customer support. ANZ was ranked the third worst amongst KiwiSaver providers with a continued decline in satisfaction year on year. Particularly about not addressing transparency and fee concerns. 

The ratings are essentially given based on KiwiSaver providers keeping customers informed with their balance and performance. Additionally, the ease in which they can access their accounts and their enquiry response time. Ultimately, your KiwiSaver provider should make it as easy as possible for you to track your account and performance and minimise disruption.

You’re ready to make an active decision on your scheme but are left wondering how on earth I find my KiwiSaver provider.

You may have a default KiwiSaver provider but you’re not sure which one. Alternatively, some businesses have their own preferred KiwiSaver providers that you can join if you have no preference. Regardless, if you do not know who your KiwiSaver provider is, there are multiple ways to find out.

1. Log in to your My IR Account through Inland Revenue. Once you are on the Summary Dashboard, if you’re a KiwiSaver member, you can see your KiwiSaver provider details. Simply click through ‘Scheme provider details’ to find the name of your KiwiSaver provider, website, and phone number.
   
2. If you don’t know your My IR Log In details, you can contact Inland Revenue and ask them which of the KiwiSaver providers you’re with. Having your IRD number ready will come in handy when contacting Inland Revenue.
3. If you were automatically enrolled with your employer’s preferred KiwiSaver provider, you can ask them for the provider’s details.

Ultimately, to find your KiwiSaver provider, shouldn’t be too difficult. Inland Revenue is your best option to track down the correct details.

Of course, you can change your KiwiSaver provider at any time. As per IRD statistics, more than 143,000 people changed between providers in 2023-24.  

There are many people like myself that get paired with a default provider and may consider changing later. Once I find my KiwiSaver provider details and performance results, I can start gathering information to make an informed decision. You don’t have to go through this alone though. A financial advisor, like National Capital, is here to make the process easy by offering you advice and comparison data. 

There are many reasons why you may decide to make the move. You may be after a KiwiSaver provider offering the cheapest fees. Alternatively, you may want to move to the top performer in any particular fund. Your decision can also rest on how ethical their investment strategy is. Although, most KiwiSaver providers are increasingly aware they are open to scrutiny on their investment decisions on an ethical basis. You may also decide to pick one depending on their customer service rating and overall user experience. 

Most people who come to us regarding their KiwiSaver provider will make a decision based on their short and long-term goals. If you are wanting to withdraw your balance to use for a first home deposit, you may consider picking a less volatile fund. The National Capital team uses the latest performance data to recommend the best KiwiSaver provider for that scenario. On the other hand, you may be after long-term high returns. Once again, National Capital crunches the latest data comparing all KiwiSaver providers to recommend the best option. 

We wrote a detailed article on how to switch providers. In fact, you may be surprised by how easy and quick the process can be. Alternatively, contact us to find the best KiwiSaver providers NZ wide.

The short answer is no. You can only have one KiwiSaver provider at any one time. The current rules have been in place since launch and there’s no indication they are about to change. 

However, we often talk about diversification and how important it is for a successful long-term strategy. With diversification in mind, I am able to split my investment between multiple funds offered by my KiwiSaver provider. Of course, you can too. 

Most KiwiSaver providers invest your funds in multiple asset classes ranging from cash, fixed interest, and international shares. Moreover, they offer different funds depending on your risk tolerance and financial goals. As mentioned, all KiwiSaver providers allow you to split your investment in multiple funds if you wish to do so. 

According to Interest, there is currently no intention or discussion to allow people to have two or more KiwiSaver providers. That goes for the government as well as KiwiSaver providers themselves. 

If you aren’t in the finance industry, you may not know how and why to choose between providers. The government selects a number of default options for people that haven’t actively chosen their KiwiSaver provider. However, that doesn’t necessarily guarantee the best performance or may not align with your financial goals. National Capital was founded with the mission to help Kiwis make an informed choice when selecting their provider. 

We’ve established that you can only select one KiwiSaver provider. Naturally, to make an active choice, there are certain criteria that you should consider. Of course, fees are one factor. Investment performance and ethics are other important factors. You should also consider your short and long-term financial goals. National Capital offers free recommendations to find out which provider best fits your needs.

We must stress, that the cheapest KiwiSaver provider fees don’t necessarily sway performance one way or another.  A KiwiSaver provider can have the cheapest fees but offer significantly lower returns than the provider with slightly higher fees. The opposite is also true. A KiwiSaver provider with higher fees may also offer lower returns than another with lower fees. 

The moral of the story is, that you shouldn’t be making your choice based on fees. We break down exactly why in this article here. Nonetheless, here’s a list of the cheapest KiwiSaver providers for each fund offered according to the Morningstar – March 2022 Report: 

We can see the BNZ Moderate Fund has one of the lowest fees and is yet outperforming the industry average. On the other hand, the SuperLife Aggressive Fund has the lowest fees but has been underperforming against the industry average.

Some KiwiSaver providers structure their fees differently from the standard fixed admin fee plus a management fee. JUNO for example structures its admin fee based on the dollar value of your investment portfolio. Their admin fee ranges from $0 to $600 depending on the total value of your portfolio. Therefore, making it more difficult to compare KiwiSaver provider fees, much like apples and oranges.

Registering with a KiwiSaver provider is a great way to save money for your future. But, like any investment, there are some things to be aware of. You could be paying excessive fees and losing money due to market changes. However, with some planning and good decision-making, the best KiwiSaver providers NZ wide, facilitate a fantastic way to save. While there are lots of benefits to KiwiSaver providers, there are also some potential downsides.

KiwiSaver provider fees: High fees and charges can impact the overall return on your investment. It’s important to take some time to carefully compare the different options available. Choose a KiwiSaver provider that aligns with your financial goals so you can get the most out of your investment.

Market Fluctuations: The returns on your investment can change depending on how the market is doing. If the market is not doing well, there is a chance that the returns on your investment may be lower. This is especially true if you have chosen to invest in higher-risk KiwiSaver provider options.

Access Restrictions: You can only withdraw money from KiwiSaver providers when you reach the retirement age or for your first home. There are some exceptions for instances like financial hardship or terminal illness, subject to strict criteria. While this can be great for ensuring your savings stay safe, withdrawal from KiwiSaver providers is restrictive.

Dependency on Market Performance: The growth of your savings is connected to how well the financial markets are doing. Changes in the global economy or big world events can affect how well the markets do. This, in turn, can affect the performance of even the best KiwiSaver providers NZ wide.

Threshold for Government Contributions: You must contribute at least $1,042.86 annually to get the total government contribution of $260.72.

From its inception to now, the variety of KiwiSaver providers has grown to adapt and meet the needs of Kiwis. All firms (banks, investment managers, apps, insurance providers, etc) are regulated by the Financial Markets Authority. Here are some current and prominent examples: 

Major Banks have offered KiwiSaver provider services since the very beginning of the scheme itself. Large banks such as ASB, ANZ, BNZ, and Westpac have their own KiwiSaver provider division. 

Specialist Investment Firms & Fund Managers have also been KiwiSaver providers for a long time. Companies such as Milford, Generate, Fisher Funds, and Pathfinder are some of the most well-known in managing investments. Some even rank among the best KiwiSaver providers NZ wide consistently. 

Wealth Apps are relatively new players as KiwiSaver providers. Apps and platforms such as Sharesies and InvestNow have joined the industry with competitive fees. Sharesies, for example, has added a service as a KiwiSaver provider to its already significant user base.

Insurance Companies and related financial institutions, like MAS (Medical Assurance Society) and Aon, also offer KiwiSaver provider services to members.

Not-forProfit Organisations such as Simplicity are owned by a charitable trust. They operate on a not-for-profit basis and aim to be the best KiwiSaver providers when it comes to low fees and ethical investing. 

Tailored Schemes like the NZ Defence Force KiwiSaver provider, which is only available to employees. Moreover, Anglican Financial Care is a Christian faith-based provider. 

Members can choose between them for a variety of reasons. If you are seeking the best KiwiSaver providers NZ wide, it is not necessarily about the type of organisation. You can get in touch with National Capital to help pinpoint the best solution for you.